Write notes on ASBA.

ASBA stands for 'Application supported by Blocked Amount'. ASBA is an application for subscribing to an issue, containing an authorization to block the application money in a bank account. The main advantage of ASBA is that the investor continues to receive the interest for amount blocked until allotment, only when shares are allotted, the money moves from the investors accounts. If the concerned investor didn't get allotment. The block is removed hence, there is no concern regarding non receipt or delay in refund, in case of allotment which was the major issue when made of payment was through cheque/DD etc. The ASBA process is mandatory in all public issues made through the book building route.